Brazil Hotels Revenue Grows at Double Digit Mark
Brazil hotels have shown revenue growth in double digits again this year. The Jones Lang LaSelle Hotels released its research study on the "Lodging Industry In Numbers- Brazil 2011" which found that the Brazil hotels were riding high on the economic growth of the country and therefore giving high revenue per available room (RevPAR) growth.
The Brazil hotels industry clocked an impressive 17.3 % in the RevPAR growth in 2010 and the performance in 2011 up till now indicates that it will touch the double digit mark again this year. The report from the firm takes into account the detailed performance of around 400 Brazil hotels, condo hotels, and resorts.
According to Ricardo Mader, Executive Vice President for the firm in Sao Paulo, the average daily rates (ADR) and occupancy rates of the Brazil hotels industry are up constantly as there is a great demand for both domestic and international travel. He also added that this trend reflects on the overall market conditions.